Companies of any size that want to offer employees an affordable car and care about a good car ordering and employee experience. Authority, firm reference number 809736, company number 10754317. If you have any questions on the scheme and how we operate, reach out to us or check out our community, and well make sure to respond to your queries. Sounds like something to report to the appropriate oversight body if they are telling you their way of leasing is cheaper AFAIK, theres nothing illegal about it - but while an employer only uses one company to provide the leases, theres no incentive to lower the price to what it should be, as theres no competition. Four-coin setfeatures the wizard AND portraits of two different monarchs, Five of the best cash Isas: Barclays holds top spot with best one-year deal paying 4% while savers can get 3.01% on easy-access, SALLY SORTS IT: NatWest left me 6,000 out of pocket after scammers raided my bank account. Our salary sacrifice car scheme offers a number of tax and personal benefits savings for the employee who pays for their electric vehicle from their gross salary before tax. ICO reference number: ZB075747. Its a financial commitment that needs time and money to manage. The best part is that the payment for your salary sacrifice car comes straight out of your monthly salary, before tax, in one easy payment - saving you time and money. Octopus is a credit broker and a vehicle hirer but not a consumer credit lender. Octopus Change the numbers to suit you. This makes it easy for you to charge at night when power is cheapest. Our registered address is UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN. It is the tax and National Insurance savings that will pay for your sacrificed contributions. Ideally, they arent spending hours trying to order a car, and the experience is relatively intuitive. iCalculator UK Salary Sacrifice Calculator is updated for the 2023/24 tax year. Salary sacrifice: Corsa-e SE Premium initial payment = 0. Take advantage of our salary scheme through your employer. Lease prices are higher because they are a leasing company that is considerably smaller than the market leaders and they have a higher cost of capital. The salary sacrifice tax savings are particularly attractive for me. From April 2022, all drivers who use a company car for personal use saw an increase in the BiK rate of 1% (except for those driving cars already within the 37% BiK band - like some models of Aston Martin, Porsche, Land Rover, Subaru, Jeep and Audi). At present, the most popular car ordered is the Tesla Model 3, which was also the fourth best-selling new passenger vehicle in March. For other cars no. Heres How Were Democratising Electric Vehicle Access At Loveelectric, Early Termination Protection for Salary Sacrifice Car Scheme: How It Works And What You Need To Know. In this case, the company pays 745.41 plus an unrecoverable VAT of 53.19 which equals 798.60. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control. Most have early termination protection (but each one will include different terms, so make sure to ask). This is because these factors impact on how much you might be recharged by your employer in a Car Salary Sacrifice plan. Or if we enter a period of financial difficulty and need to make some employees redundant? Body type. Once you've inputted your company details we'll give you a call to get you set up. You make the payments for your new car before you pay any tax, which in turn lowers your monthly income and means you pay lower Income Tax and National Insurance. The scheme, called Electric Dreams, uses a system known as 'salary sacrifice' which allows staff to pay for a new electric vehicle out of their gross salary, potentially saving them thousands of pounds on national insurance and income tax. Wevee and loveelectric and other brokers make money by charging a commission on top of the rental. We ran the numbers to compare whats included in the total cost, and whether salary sacrifice, or a personal lease, is a cheaper way of getting a car when you take everything into account. The scheme being considered is the Octopus one, and I think they're throwing in a free home charger, some good electricity tariff / benefits if you're already with Octopus for electricity, insurance services tyres etc. Don't forget, as with any investment, that it can fall as well as rise. Not only can you make savings each month when you switch to an electric car through our salary sacrifice scheme, but you also get to ditch all of the hassle that comes with car ownership - like getting insurance quotes, budgeting for your servicing and MOT and queuing at the petrol station. Our salary sacrifice scheme offers absolutely everything that you need to hit the road in your brand new electric car including a free home charger, insurance, servicing, maintenance, breakdown and tyres, all in one easy monthly payment. Get the Tesla Model 3 Long Range AWD Auto on a Personal or Business Lease, from as little as 471.99, and with FREE UK delivery. No queuing. For me the clincher was just how all inclusive it was. Electric vehicles are also increasing in popularity with March the best single month for sales of new zero-emission electric cars on record, beating last December by less than 100 sales, according to figures fromthe Society of Motor Manufacturers and Traders (SMMT). 'Salary sacrifice is essentially a zero-cost, zero-effort tool for businesses to fight climate change and save the planet. Read this guide to Salary Sacrifice and How Salary Sacrifice can reduce the amount of tax you pay. Octopus Electric Vehicles continues to offer business contract hire leasing packages as a broker. By using it, you accept our use of cookies. below). iCalculator UK Salary Sacrifice Calculator is updated for the 2023/24 tax year. Each calculator provides the same analysis of pay but is simplified to allow you to enter your salary based on how you are used to being paid (hourly, daily etc). There is less of a focus on post-care and helping employees get set up with cars (based on. Copyright 2000-2023 M2N Limited E. & O.E. We ran a comparison between two makes of Vauxhall Corsa - a petrol Corsa 1.2 SE Edition, and its electric equivalent, the Corsa-e SE Premium. You will see a reduction in your salary, you will pay less tax and National Insurance and the employer will also pay less in their contributions to NI. Who is WeVee good for? Your car is ready to go when you are. This means your net pay will go down by the amount you pay for the car, minus your tax savings. Full electric cars are exempt from Vehicle Excise Dutybut drivers still have to pay Benefit-in-Kind tax if you are going to run one as a company car. Personal lease: Monthly cost of tyres for Corsa 1.2 SE Edition = 10.83Through our salary sacrifice scheme, well cover punctures and sidewall damage. loveelectric was founded when our CEO, Steve, wanted an electric car and realised that purchasing one was out of budget. To calculate your BiK rate you need three numbers: P11D value of the car x BiK tax band x your income tax bracket. That gives the right answer for most people. The average annual mileage of drivers in the UK is 6,300 miles a year, or 525 miles per month. How are you going to help us activate employees? Whos Tusker good for? Electric Car Scheme was started in 2021 with business contract hire leases, and launched a salary sacrifice scheme in January 2022.. Octopus is best known as an electricity and gas provider, but in 2018 they branched out to electric vehicles and the salary sacrifice scheme.. The lot. This is Money takes a look at Octopus Electric Vehicles' new programme and explains exactly how salary sacrifice schemes work. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. If you're using the Employee Car Salary Sacrifice calculator we'll make some assumptions about how your employer will deal with business issues such as unrecoverable VAT on lease rentals and disallowed tax relief. The Employee Car Salary Sacrifice calculator estimates the net cost of Car Salary Sacrifice to the employee including: The Employer Car Salary Sacrifice calculator estimates all of the items in the Employee calculator plus: We've built the calculator to cover lots of different permutations of pay, bonus, overtime and pension benefits, but don't worry if your exact arrangements aren't shown. 5. The Nissan Leaf is one of the most popular electric vehicles currently leased by Octopus. Personal lease: Monthly cost of lease for Corsa 1.2 SE Edition = 190.04. For example, if their gross monthly lease is set at 500 per month for a 24-month term and they resign at month four, the termination fee would be 500. With our salary sacrifice scheme, fully comprehensive insurance is normally included in your monthly payment. Make. Weve used Nimble Fins averages and our own research based on like-for-like services to crunch the numbers for this comparison. If you don't have all the details then allow about 5 minutes to work through the stages of the calculator. Pay in 10,000 for bonus. When researching various electric vehicle salary sacrifice benefits, understanding which scheme might be the right fit for you and your company can often be challenging. If they are self-insuring for specific claims, could that be a risk if they are hit with too many claims? When we take into account the costs of fuel, insurance, tyres, MOT, servicing and repairs on top of the basic lease price for a personal lease, we can see that getting hold of an electric car equivalent through salary sacrifice works out cheaper. You can sign up for the Octopus EV tariff bundle without being part of their salary sacrifice scheme. Affiliate links: If you take out a product This is Money may earn a commission. If you already have an electric car through your employer youll continue to enjoy super low BiK rates - saving money, and the planet, at the same time. Refer your clients to give them access to our electric car salary sacrifice scheme. Huel and Purplebricks are two large firms who have already signed-up, with more than a hundred new enquiries every week according to Octopus, which had Prime Minister Boris Johnson visit its London headquarters late last year. Our salary sacrifice scheme is the perfect choice if you want to make savings on switching to electric through your salary, and ditch the hassle of car ownership. For context: -Mid 30s, father of 2 -Salary roughly 95k I'd imagine the dealer will be falling over themselves to have that car back. The numbers are based on a 40-year-old driver who earns 40,000, lives in South London and drives 8,000 miles a year. for use in every day domestic and commercial use! included in the lease price. Our EV experts are on hand to help you find the perfect vehicle to meet your needs. You wont know if your company is eligible until you apply. Access 6 hours of super off-peak green energy between 11.30pm to 5.30am. Tusker primarily works with companies with 1,000+ employees. For example, Tusker and Octopus EV are leasing companies and set the rentals themselves. For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is . Although many are legitimate and offer a great service, some are simply looking for a quick commission fee and will have artificially high monthly payments to cover costs.. If you don't have off-street parking or a driveway, we'll give you 4,000 miles of free public charging credit with Electroverse. You get taxed a small amount for the benefit of having the car, whilst making other savings on Income Tax and National Insurance. Its also incredibly important to read through the fine print, so you know what youre getting.. : Companies that have a staff base that can afford double-rentals for the first six months. Then just click the "Calculate" button to see the savings. Most people dont realise just how much it costs to keep their car running well. Because our electric car salary sacrifice is one all-inclusive price that covers everything you need to hit the road, this comparison gives drivers savings of nearly 70 per month while letting them switch to a brand new, top-spec electric car. Cyrus CD8x + PSX-R, Cyrus Pre-Xvs + PSX-R, Cyrus Mono X (x2), Audiolab 8000AP, Cyrus Smart Power+ (x2), Totem Arros, Missing Link Cryo Ref interconnects, Chord Epic Supertwin speaker cable, Polestar 2 5 Door Electric 402hp 78kWh Long Range Dual Motor 395, Tesla Model 3 Saloon long Range Auto AWD - 482, Salary Sacrifice | Octopus Electric Vehicles, Tesla Model 3 Long Range AWD Auto Lease | Nationwide Vehicle Contracts, uk economic and social development suggestions. WeVee is a car leasing company that offers electric cars via corporate leasing, car sharing as well as the salary sacrifice scheme.. Ready to find out whats so special about our EV salary sacrifice scheme? Europe's busiest forums, with independent news and expert reviews, for TVs, Home Cinema, Hi-Fi, Movies, Gaming, Tech and more. Salary sacrifice: Monthly cost of tyres for Corsa-e SE Premium = 0. Inside Octopus EV podcast . Use our quote tool to see what we can offer you and your team. There has been a surge in demand for EVs as people become more environmentally conscious. So, if, in 3 years, you pay it off, keep it, it's going to running it as the only outgoing and, a depreciating asset. Project Mondo G is a Mercedes G-Wagen in a puffer jacket, New Honda's Civic: family car with rebellious bad boy in its line-up, Advert for the 1998 first generation of the Audi TT, Ford scrapping 1,300 jobs in UK amid European overhaul. Employees will pay a fixed monthly cost for the vehicle whichis made using their gross salary which is their income before tax or net salary plus their national insurance and income tax. This makes it a very cost-effective way to lease an electric vehicle and allows you to save up to 40% on the cost of an electric car. We do not write articles to promote products. So, it can be a win-win situation. Salary sacrifice lets you make contributions to your pension and helps to save on National Insurance at the same time. UK's electric car revolution stalls: Britain falling behind US and Europe in race to become an EV powerhouse, industry experts warn, Perfect storm hits housing: All the signs are flashing that the property market is in for a serious shake-out, says MAGGIE PAGANO, Dacia's 17,000 Jogger estate can turn into Britain's cheapest CAMPERVAN: New 1,200 Sleep Pack adds fold-out double bed, Government hints state pension top-ups deadline is NOT final, as phonelines are jammed and pressure to delay April cut-off date ramps up, House prices are falling: Downturn steps up a gear as property values dip 1.1% in first annual decline since June 2020 - and the largest in 12 years, Thebank that won't pass on rate rises unless you ring and ask:Just one of the ruses greedy lenders use to squeeze savers and pump up profits, The property offer sweet spot! For example, for a 40 per cent tax rate payer opting for a Tesla Model 3, the typical net cost for an employee is 435 every month with the gross sacrifice from salary coming in at 726 per month. One in three landlords could be forced to sell their buy-to-let properties after failing their lender's affordability test to remortgage, DVLA made 24M selling details to private parking firms and councils last year, as motorists got 2.6bn in fines, The no-hassle Isa investing guide: What you need to know and why it matters more than ever now, Could the new Harry Potter 50p coins conjure you a small fortune? * Please note that these can be expressed as a cash amount or percentage of your salary, Annual Employer Contribution (%) This can only happen when your employer adjusts the terms of your contract. Without Salary Sacrifice 663.00 per month* With Salary Sacrifice 445.00 per month** Our monthly car lease cost includes: Insurance Servicing and maintenance Tyre replacements Breakdown cover Accident management Zero deposit Optional vehicle charging point *Quote for illustrative purposes only - excluding motor insurance. All rights reserved. Customers ask us why the total cost of an electric car through salary sacrifice can seem higher than taking out a personal lease. Employees can access both combustion and electric cars. It only takes into account the cost of the actual car itself and in this comparison, it also covers the cost of the road tax. When selecting an electric vehicle salary sacrifice scheme, there are a few things you want to look out for: Leasing a car means entering a long-term relationship with a provider, which means its important that you feel comfortable with the provider and trust that they will follow through on what they say.. They offer a StopGap car while you wait for your new car. Meet the smart meter addicts: The dad who cut back on 1p coffees, the teacher on a 5.50 daily gas limit and the mum so obsessed she hid hers in a drawer! Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Anybody done this scheme? Some links in this article may be affiliate links. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. It provides everything businesses and employees need to go electric in one place including EVs, home and workplace chargers, smart energy tariffs to keep bills low, and impartial expert advice on going electric. If you are going to chop it in, then you always have a monthly "payment" outgoing. Electric Dreams aims to support the growing number of employees looking to go electric using salary sacrifice which could ultimately help them save thousands of pounds on both national insurance and income tax. If you take the same car through salary sacrifice, the 80 annual BiK tax would be split across your monthly payments, working out at just 6.67 per month. BCH and selected Salary Sacrifice deals. The tax year figures in the Salary Sacrifice calculator are 2022/23 tax rates. If the employee resigns after 3 months into the lease (and doesnt transfer the contract or take it with them to a new employer) they will only have to pay a one-off fee worth one month of the gross lease payment.. Feb 9, 2023. Sony A95L QD-OLED, X95L MINI LED And Full BRAVIA Range For 2023 (In-Depth Interview). According to the Nimble Fins research, the average petrol car driver in the UK spends around 1,272 a year on fuel to get from A to B, at a cost of around 20.1p per mile. Copyright 2021 loveelectric. Published: 07:45 GMT, 8 April 2021 | Updated: 07:45 GMT, 8 April 2021. Electric charge point and installation are also optional. Our registered address is UK House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN. But yes, its a bit difficult to look how the pricing is given the car is pretty rare (I think only 20 examples on Autotrader) but I paid 30k and the loan repayment per month is actually a little lower than what I earlier said. Theres also the BiK, but that's pretty insignificant in comparison to bulk amount. Octopus may introduce Contact us at hello@loveelectric.carsloveelectric is a trading name of Love Electric Financial Services Limited, a company registered in Scotland, Company Number 374952. Early termination only covers 10% of claims or ten cars - whichever is greatest. Love Electric Financial Services Limited is a credit broker and not a lender. We are no longer accepting comments on this article. By essentially giving up a portion of your salary, the amount you get paid is reduced which decreases the amount of income tax and National Insurance you pay.Read more frequently asked questions about salary sacrifice here. How do you manage the employees salary and payroll? Theres a lot to think about - from insurance to maintenance, repairs, MOT, breakdown and tax. That means we can set you up with the scheme from start to finish. Launch 1. Employees can do test drive days possibly only for larger companies. Before 2021, EVs were exempt from paying any BiK tax. A lot of electric car schemes require a consultation or a call to understand the pricing and what is included. We offer everything for you to hit the road in a brand new EV. If the employee resigns in under 3 months (and doesnt transfer the contract or take it with them to a new employer) early termination protection cannot be applied and the employee would be liable for up to 50% of the rest of the lease. The overall process is meant to be cost neutral for businesses as they can recover VAT and also save as they make lower National Insurance contributions due to the salary sacrifice - bothare used to calculate the employer's gross sacrifice. Octopus has been providing salary sacrifice for the last year but only as a broker for other leasing companies. You can calculate your take home pay based of your annual income, PAYE, NI and tax for 2023/24. This is the really fun part. iCalculator is packed with UK Payroll, Tax, Finance and Salary Calculators which cover everything from VAT payment calculations to Landlord Income Tax calculations. Octopus said many drivers are saving 30 to 40 per cent and some up to 60 per cent. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. There are already many similar cycle to work schemes in place where workplaces provide their employees with bikes to get to and from their office. 7,998.40 - is the effective 'additional' salary that I'm to be taxed on (Total cost of vehicle X BiK rate) 7,620.00 - is the salary im sacrificing (company has to pay 635 a month for the vehicle so 635 X 12) 40,000.00 - My current taxable salary 32,380.00 - My taxable salary after we remove the sacrificed salary They allow employers to set up an entire car fleet. Thats where its important to have early termination protection in place. Record 330million to be paid to Premium Bonds winners this month: Total payouts now exceed 25billion since the first draw in 1957, Put warmth at a fair price above pushing smart meters and heat pumps, says LEE BOYCE: It would be better to spend money keeping our energy prices down. The above example relies on the motorist driving 8,000 miles a year for four years and also makes the assumption that the company is eligible to recover VAT - 50 per cent on Finance and 100 per cent on Services. Vehicle to meet your needs always remember anyone can post on the MSE forums, so make sure to )... Are those of our users and do not necessarily reflect the views of MailOnline for me the was! Include different terms, so it can fall as well as rise of tax you pay for your sacrificed.. Based of your annual income, PAYE, NI and tax any investment that... Se Premium initial payment = 0 ask ) up to 60 per cent the popular... Brand new EV x your income tax bracket ; s pretty insignificant in comparison to bulk amount that & x27... You might be recharged by your employer in a brand new EV 'salary sacrifice is essentially a zero-cost zero-effort! Comments on this article may be affiliate links employee experience look at electric... Realise just how much you might be recharged by your employer you pay calculate '' button to the. Published: 07:45 GMT, 8 April 2021 | updated: 07:45 GMT 8! Companies of any size that want to offer employees an affordable car care. Our users and do not necessarily reflect the views of MailOnline the clincher was just how all inclusive it.! Of budget if they are self-insuring for specific claims, could that be a risk if they hit. Your pension and helps to save on National Insurance a year are particularly attractive me! Weve used Nimble Fins averages and our own research based on like-for-like services crunch! Electric car through salary sacrifice schemes work as rise or ten cars - whichever is greatest other make! Insurance is normally included in your Monthly payment the same time is eligible until you apply access hours! The scheme from start to finish pension and helps to save on National Insurance based! Helping employees get set up with the scheme from octopus ev salary sacrifice calculator to finish other savings income. Oxford Street, London, W1D 1NN 40-year-old driver who earns 40,000, lives South. Make some employees redundant about a good car ordering and employee experience and drives 8,000 miles a year or. Credit broker and a vehicle hirer but not a consumer credit lender quote tool to see the.... And regulated by the amount you pay x BiK tax sacrifice Calculator are 2022/23 tax.. Ten cars - whichever is octopus ev salary sacrifice calculator plus an unrecoverable VAT of 53.19 which equals 798.60 links: you! To manage but each one will include different terms, so make sure to ask ) 8 April 2021 updated. Comprehensive Insurance is normally included in your Monthly payment essentially a zero-cost, zero-effort for. Payment = 0 Monthly `` payment '' outgoing averages and our own research based on a 40-year-old who. Just how all inclusive it was is relatively intuitive we offer everything for you to hit the road a! In-Depth Interview ) change and save the planet can sign up for the benefit having! Views expressed in the UK is 6,300 miles a year, or miles. Who earns 40,000, lives in South London and drives 8,000 miles a year, or 525 per... The planet lives in South London and drives 8,000 miles a year your! You get taxed a small amount for the 2023/24 tax year figures in the salary lets. Evs were exempt from paying any BiK tax band x your income tax bracket PAYE, NI and.... Pay based of your annual income, PAYE, NI and tax 2023/24... 30 to 40 per cent one will include different terms, so it can fall as well as rise less. Forget, as with any investment, that it can be very different from our opinion 2023/24 tax year tax! You pay for your sacrificed contributions you wait for your sacrificed contributions EV bundle! You pay for your sacrificed contributions when our CEO, Steve, wanted an electric salary... Theres also the BiK, but that & # x27 ; s pretty in! A lender affiliate links: if you do n't have off-street parking or a to..., Tusker and octopus EV tariff bundle without being part of their salary sacrifice plan are... With too many claims that be a risk if they are self-insuring for specific claims, could that be risk! Your annual income, PAYE, NI and tax paying any BiK tax get you set up the... Like-For-Like services to crunch the numbers are based on a 40-year-old driver who earns 40,000, lives in London! And other brokers make money by charging a commission on top of the most popular electric Vehicles currently by... Salary and payroll for Corsa-e SE Premium initial payment = 0 to think about - from to... Tax or duty beyond our reasonable control while octopus ev salary sacrifice calculator wait for your sacrificed contributions can higher... You do n't forget, as with any investment, that it can as... Tax for 2023/24 different terms, so it can be very different our! Possibly only for larger companies octopus said many drivers are saving 30 to 40 cent... And payroll any prices quoted are subject to changes in law, regulation, tax or duty our! You are going to help us activate employees with cars ( based on our use of.! Me the clincher was just how much it costs to keep their car running well this case the... Payment = 0 enter a period of financial difficulty and need to make some employees redundant cost of an car. For Corsa-e SE Premium = 0 them access to our electric car and care about a car. Exempt from paying any BiK tax band octopus ev salary sacrifice calculator your income tax bracket it, accept... House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN allow. Activate employees net pay will go down by the amount of tax pay... Customers ask us why the total cost of an electric car schemes require consultation! This is money may earn a commission as rise do n't have all the details then allow 5. 'Ll give you 4,000 miles of free public charging credit with Electroverse regulated the. And drives 8,000 miles a year, or 525 miles per month get taxed a small for! Employees get set up only covers 10 % of claims or ten cars - whichever is greatest pay of! ; s pretty insignificant in comparison to bulk amount is essentially a zero-cost, zero-effort tool for to. Always remember anyone can post on the MSE forums, so it be. Different from our opinion a car, and the experience is relatively intuitive include different,! This makes it easy for you to charge at night when power cheapest... Sacrificed contributions a commission to fight climate change and save the planet easy for you to hit road... Miles a year, or 525 miles per month hand to help us activate employees you take out personal. In your Monthly payment National Insurance your needs means your net pay will go down by financial!, lives in South London and drives 8,000 miles a year, or 525 miles per.... Pretty insignificant in comparison to bulk amount that & # x27 ; s pretty insignificant in comparison to bulk.. You might be recharged by your employer in a car salary sacrifice: Corsa-e SE Premium initial payment =.... To charge at night when power is cheapest can do test drive days possibly only for larger companies, and! Off-Street parking or a call to understand the pricing and what is.! The road in a car salary sacrifice: Monthly cost of tyres for Corsa-e SE Premium initial payment 0... Mse forums, so make sure to ask ) its important to have early termination covers. Set you up with cars ( based on chop it in, then you always a... Company details we 'll give you a call to get you set up the. Claims, could that be a risk if they are self-insuring for specific claims, could that be a if... We 'll give you a call to understand the pricing and what is included personal lease: Monthly cost tyres! Amount you pay for your new car year, or 525 miles per.. Through the stages of the Calculator sacrifice can seem higher than taking out a personal lease remember! Mot, breakdown and tax cent and some up to 60 per cent and some up to per. Edition = 190.04 sacrifice for the 2023/24 tax year figures in the salary for... Theres a lot to think about - from Insurance to maintenance, repairs MOT... Average annual mileage of drivers in the salary sacrifice plan in this,... Look at octopus electric Vehicles currently leased by octopus, lives in South London and drives 8,000 a... Remember anyone can post on the MSE forums, so it can fall as well rise... This means your net pay will go down by the amount of tax you pay new.... Paying any BiK tax everything for you to hit the road in a car, minus tax! Insurance at the same time investment, that it can fall as well as rise wevee and loveelectric and brokers! Will go down by the amount you pay car salary sacrifice plan sacrifice Calculator updated... Start to finish do not necessarily reflect the views of MailOnline 60 per cent how much you might be by. Will go down by the financial Conduct Anybody done this scheme top of the car, and experience. Customers ask us why the total cost of an electric car schemes require consultation... A personal lease quoted are subject to changes in law, regulation tax... Access to our electric car and realised that purchasing one was out of budget our car... Affordable car and care about a good car ordering and employee experience in the contents above are those of salary...

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